Knowledge Shop Blog

Top super Q&As - event based reporting, moving pension types

Knowledge Shop Editor | 12/07/18 12:40

If you're grappling with year end issues, and the new reporting requirements for your SMSF clients, you are not alone.  This month's top superannuation Q&As live from the Knowledge Shop Help Desk: Moving from a TTR to an account-based pension Reporting LRBAs for events-based reporting The practical problems of collectables within an SMSF Fund members lending to an SMSF Valuing Business Real Property within an SMSF
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Superannuation Q&As

June 2018 Top Tax & Accounting Q&As

Knowledge Shop Editor | 03/07/18 11:27

This month's Top 5 Tax & Accounting Q&As live from the Knowledge Shop Help Desk: Differences between taxable income and distributable income of a trust Can a company transfer its tax / capital losses to another company? Extracting profits from a company through liquidation The margin scheme and pre-2000 property Accessing the small business CGT concessions for disposal of business premises
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Accountants Q&As

What a difference a day makes: The Impact of the new education standards for financial advice on accountants

David Moss | 28/06/18 12:20

Unlicensed and unauthorised accountants have until 31 December 2018 to bring themselves under an AFSL or be considered a new entrant - studying up to 24 subjects to qualify to provide basic SMSF advice.   The impact of FASEA FASEA was established under legislation to introduce higher education standards for financial planners, together with a Code of Ethics.
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March 2018 Top Tax & Accounting Q&As

Knowledge Shop Editor | 27/03/18 13:59

This months top tax & accounting Q&As live from the Knowledge Shop Help Desk: Are management fees for a salary sacrificing arrangement deductible? Changing the term of a Division 7A loan agreement Applying the rollover rules when restructuring from a sole trader to a company Consolidating franking accounts when companies consolidate Restrictions on applying the main residence exemption to the sale of a property
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Accountants Q&As

Foreign Residents Excluded from Main Residence Exemption - legislation before Parliament

Michael Carruthers | 08/02/18 15:32

New legislation introduced into Parliament today will prevent foreign residents accessing the capital gains tax (CGT) exemption on a main residence. If the legislation is enacted, a taxpayer will not generally be able to claim any exemption under the main residence rules if they are a non-resident at the time of the CGT event, even if they were a resident for some (or even most) of the ownership period. No apportionment applies – the exemption simply doesn’t apply at all if the individual is a foreign resident when the CGT event is triggered.
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